2864 replies to this topic

[hhh]

linrom1, that's a ballsy move with today's candle. Biggest up candle since Dec. 16.

[gannman]

gld has held up very well i expect a massive move up in this bad boy fwiw 

[gannman]

hmm i am wondering if oil is about to go ballistic here 

 

any thoughts on that are appreciated 

[linrom1]

linrom1, that's a ballsy move with today's candle. Biggest up candle since Dec. 16.

Waiting till close....I don't see an impulse on gold? FNV , NEM, RGLD, AEM action is not bullish.

Edited by linrom1, 11 January 2022 - 01:41 PM.

[hhh]

I agree, from a strict E-wave approach, it's hard to count a proper impulse. But it's a strong day regardless, and gold is kind of funny. I've seen so many H&S patterns fail, and just plain uncountable messes, that I find you can't count absence of evidence as necessarily evidence of absence of bullishness. Most candles this big shoot a bit further the next day and a spinning top tomorrow would be a safer entry IMO. We've reclaimed the uptrend line since Sep. 29 on the daily after the eighth time below it. That's got to be worth something.

Edited by hhh, 11 January 2022 - 01:52 PM.

[gannman]

i actually think that gld and the miners bottomed yesterday around 11 am .

 

so i think this correction is done finito just my take and i think oil might be ready

 

to go ballistic 

[hhh]

Oil looks like it could be in a third of third here. On Investing.com's daily chart of "T, Crude Oil WTI" it's showing a "Three black crows" on today's big (almost) marubozu candle, WTF? Something clearly wrong with the automatic candle pattern identifier there.

[hhh]

I see a very short term top in the GDXJ here, but I'm talking pennies more than dollars.

[gannman]

hhh we have been correcting for close to 18 months in this bad boy. 

 

the first impulse wave in gld was 55 months into aug 2020. which we corrected for 17 months and change  i think we could very well 

 

be starting a  89 month impulse wave up in gld. i am excited 

[hhh]

gannman: I'm trying to suppress my inner scalper. I have plenty of long term positions regardless. I hope you're right and I sense that you are. I really like this board, so many different approaches and viewpoints.